Suchergebnisse

Empirical research on firms' (dis)incentives to disclose investigates the effects of a range of variables including information asymmetry, agency costs, political costs, and proprietary costs. Verrecchia (2001) argues that economic-based models of disclosure must establish a link between financial reporting and its economic consequences. In response to Verrecchia (2001) and drawing on the industrial organization and strategic management disciplines we introduce a new variable (measuring insider ownership and industry competition) which links both the internal and external environments of the firm and demonstrate that it adds to our understanding of discretionary financial disclosure decisions. We test the model by examining voluntary segment disclosures in Australian firms. We find that our new variable linking the internal and external environment of the firm, alongside previously tested variables including ownership diffusion, return and size is significant. We conduct a series of robustness tests on our model and find that the significance of the model is robust to the inclusion of variables measuring the change in standard, acquisitions and disposals and cross listing on the US stock exchange.

Empirical research on firms' (dis)incentives to disclose investigates the effects of a range of variables including information asymmetry, agency costs, political costs, and proprietary costs. Verrecchia (2001) argues that economic-based models of disclosure must establish a link between financial reporting and its economic consequences. In response to Verrecchia (2001) and drawing on the industrial organization and strategic management disciplines we introduce a new variable (measuring insider ownership and industry competition) which links both the internal and external environments of the firm and demonstrate that it adds to our understanding of discretionary financial disclosure decisions. We test the model by examining voluntary segment disclosures in Australian firms. We find that our new variable linking the internal and external environment of the firm, alongside previously tested variables including ownership diffusion, return and size is significant. We conduct a series of robustness tests on our model and find that the significance of the model is robust to the inclusion of variables measuring the change in standard, acquisitions and disposals and cross listing on the US stock exchange.

Public and private investors want timely, accurate financial information about institutions before investing. This requires adherence to internationally accepted financial disclosure standards. However, implementing these standards is a particular challenge for economies in transition from the Soviet-era central planning approach toward a market economy. In response to requests from Kazakhstan, the Kyrgyz Republic, Mongolia, and Uzbekistan, ADB provided a technical assistance grant to build capacity to enhance financial disclosure standards. This book is a compendium of the project's findings, activities, results, and recommendations. It can be a valuable guide to accountants, auditors, financial institutions, regulators, investors, governments, researchers, and others interested in the financial practices and progress of these developing nations.

Public and private investors want timely, accurate financial information about institutions before investing. This requires adherence to internationally accepted financial disclosure standards. However, implementing these standards is a particular challenge for economies in transition from the Soviet-era central planning approach toward a market economy. In response to requests from Kazakhstan, the Kyrgyz Republic, Mongolia, and Uzbekistan, ADB provided a technical assistance grant to build capacity to enhance financial disclosure standards. This book is a compendium of the project's findings, activities, results, and recommendations. It can be a valuable guide to accountants, auditors, financial institutions, regulators, investors, governments, researchers, and others interested in the financial practices and progress of these developing nations.

Includes index. ; Includes index. ; "November 2004"--1st prelim. p. ; Shipping list no.: 2005-0061-P. ; Mode of access: Internet.

Includes index. ; Shipping list no.: 96-0301-P. ; Mode of access: Internet.

Includes index. ; Shipping list no.: 94-0168-P. ; Cover title. ; Mode of access: Internet.